You can research the O&G production for Cressent here. The actual producer is Utility Ventures which is a subsidiary of Cressent. There is alot of information regarding Cressent on the KING page on ihub.
So basically the PR's are telling you that Cressent is going to increase production 200 fold?? When Cressent R/M with KING in December it claimed it was going to increase production 70 fold. Instead production fell over the past few months to 1 barrel a day?
I am just trying to provide due diligence, CHAG an small O&G company also in Texas has over a million in production, a million or more in cash and is fully reporting OTC:BB stopck and has a market cap of 4 million, where FOGC via Cressent has production annualized at $45,000 and no cash and a pink sheet yet is valued at 15 times CHAG?
I just checked the Texas RR site. Production is only updated through January. Cressents wells which are in the name of Utility Ventures are in District 3 & 9.
District 3 9 Dec '10 10bbls 29bbls Jan '11 23bbls 29bbls